Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its position in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 24.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 116,608 shares of the company's stock after selling 37,578 shares during the quarter. Truist Financial Corp's holdings in Conagra Brands were worth $3,236,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Conagra Brands in the 4th quarter valued at $28,000. Grove Bank & Trust increased its position in Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock valued at $31,000 after acquiring an additional 447 shares during the period. Stonebridge Financial Group LLC purchased a new stake in Conagra Brands during the 4th quarter valued at approximately $44,000. Abich Financial Wealth Management LLC acquired a new stake in Conagra Brands during the 3rd quarter worth approximately $47,000. Finally, Asset Planning Inc purchased a new position in shares of Conagra Brands in the 4th quarter valued at approximately $53,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Conagra Brands from $30.00 to $29.00 and set a "neutral" rating for the company in a report on Friday, January 3rd. Barclays reduced their price target on Conagra Brands from $33.00 to $32.00 and set an "overweight" rating for the company in a report on Monday, December 23rd. Stifel Nicolaus lowered their price target on shares of Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a research note on Wednesday, February 19th. The Goldman Sachs Group cut shares of Conagra Brands from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $33.00 to $26.00 in a research note on Monday. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $29.00 target price on shares of Conagra Brands in a research report on Friday, December 20th. Eight research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $28.67.

Conagra Brands Trading Up 1.1 %

NYSE CAG traded up $0.30 during trading hours on Tuesday, hitting $26.12. 5,039,979 shares of the company's stock were exchanged, compared to its average volume of 5,837,057. Conagra Brands, Inc. has a 12-month low of $23.06 and a 12-month high of $33.24. The business's 50 day moving average is $26.11 and its 200-day moving average is $28.49. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The firm has a market capitalization of $12.47 billion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 1.76 and a beta of 0.28.

Conagra Brands (NYSE:CAG - Get Free Report) last released its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The business had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company's quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the company earned $0.71 earnings per share. As a group, analysts anticipate that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, January 27th. This represents a $1.40 annualized dividend and a yield of 5.36%. Conagra Brands's dividend payout ratio is presently 137.25%.

Conagra Brands Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.